1
00:00:02,400 --> 00:00:15,760
Speaker 1: Bloomberg Audio Studios, Podcasts, radio news.

2
00:00:13,800 --> 00:00:16,720
Speaker 2: Single best Idea on a September eleventh, Thank to our

3
00:00:16,760 --> 00:00:21,560
Speaker 2: team with three four major news stories here across Drive

4
00:00:21,600 --> 00:00:25,000
Speaker 2: Time America. Thank you for the comments on Apple CarPlay,

5
00:00:25,000 --> 00:00:28,320
Speaker 2: Android Auto on all of our stations in the corridor,

6
00:00:28,400 --> 00:00:31,800
Speaker 2: the East Coast, Washington ninety ninety one FM and our

7
00:00:31,880 --> 00:00:35,519
Speaker 2: flagship station Bloomberg eleven three to zero AM in New

8
00:00:35,560 --> 00:00:38,839
Speaker 2: York City. On this day, just stunning to see the

9
00:00:38,920 --> 00:00:42,120
Speaker 2: leadership of the nation in this presidential election lined up

10
00:00:42,800 --> 00:00:47,280
Speaker 2: at the Memorial in New York City, to see Vice

11
00:00:47,360 --> 00:00:51,640
Speaker 2: President Harrison, former President Trump shake hands, and to see

12
00:00:51,640 --> 00:00:57,000
Speaker 2: those in attendants, including former Mayor Michael Bloomberg, you know,

13
00:00:57,040 --> 00:00:59,760
Speaker 2: sponsoring all that I do, and also to see former

14
00:00:59,800 --> 00:01:05,720
Speaker 2: Mayor Giuliani. There was memorable as well. On the economic front,

15
00:01:05,720 --> 00:01:11,200
Speaker 2: there was an inflation item. Liz Young had a wonderful

16
00:01:12,560 --> 00:01:15,600
Speaker 2: tweet out that eighty seven percent of the rise in

17
00:01:15,600 --> 00:01:19,119
Speaker 2: inflation had to do a shelter. I was stunned by

18
00:01:19,120 --> 00:01:21,280
Speaker 2: that number. Thing. Liz, got to get you back on

19
00:01:21,360 --> 00:01:26,080
Speaker 2: here soon. That's just just stunning. Here's Constance Hunter of

20
00:01:26,200 --> 00:01:30,520
Speaker 2: EIU talking about our service sector inflation.

21
00:01:30,840 --> 00:01:32,960
Speaker 1: What I think is so interesting if we look around

22
00:01:33,000 --> 00:01:38,320
Speaker 1: the world, the stickiness of services inflation is global, and

23
00:01:38,680 --> 00:01:41,720
Speaker 1: so what is that about? That is about the bounce

24
00:01:41,760 --> 00:01:47,880
Speaker 1: back from the pandemic, and so therefore, you know, we

25
00:01:47,960 --> 00:01:51,760
Speaker 1: think about what is that that stickiness is because people

26
00:01:51,880 --> 00:01:56,680
Speaker 1: didn't participate in goods and service in services activities and

27
00:01:56,720 --> 00:02:01,440
Speaker 1: now they're bringing that forward, whether we're talking about travel out, concerts,

28
00:02:01,800 --> 00:02:05,280
Speaker 1: medical services, and so we see this everywhere from from

29
00:02:05,360 --> 00:02:09,079
Speaker 1: Chile to Europe to the US. It's a global phenomenon

30
00:02:09,200 --> 00:02:11,160
Speaker 1: and that is that is the long tail of the

31
00:02:11,160 --> 00:02:15,520
Speaker 1: pandemic still working its way through the inflation statistic.

32
00:02:15,360 --> 00:02:18,359
Speaker 2: Conscience Hunter too short a conversation today with the Newslow,

33
00:02:18,400 --> 00:02:22,960
Speaker 2: but we thank her for her attendance. The format era

34
00:02:23,040 --> 00:02:27,440
Speaker 2: at Bloomberg of Matt Winkler, the founder of Bloomberg News,

35
00:02:27,440 --> 00:02:30,799
Speaker 2: and codified again by John michaels Waite, our editor in

36
00:02:30,919 --> 00:02:33,840
Speaker 2: chief is we don't give opinions, So I'm going to

37
00:02:33,880 --> 00:02:38,560
Speaker 2: tread lightly here off of the debate last night. And

38
00:02:38,720 --> 00:02:42,959
Speaker 2: you know, my opinion on Harris Trump Trump Harris doesn't matter,

39
00:02:43,639 --> 00:02:47,720
Speaker 2: but I do want to say that the discussion alluded

40
00:02:47,760 --> 00:02:53,920
Speaker 2: to and directly by both parties a terriff economics I

41
00:02:54,000 --> 00:02:58,800
Speaker 2: can't find in a textbook bonus round. We have experience

42
00:02:59,639 --> 00:03:04,120
Speaker 2: with the tariffs in the nineteenth century and certainly within

43
00:03:04,160 --> 00:03:09,160
Speaker 2: what's called blockism, bloc blockism of the nineteen twenties and

44
00:03:09,200 --> 00:03:15,440
Speaker 2: into the dreadful nineteen thirties. Nobody knows this politically, Like

45
00:03:15,520 --> 00:03:20,040
Speaker 2: the professor from Brown University, Wendy Schiller, on a debate

46
00:03:20,480 --> 00:03:21,840
Speaker 2: and tariffs, it's really.

47
00:03:21,720 --> 00:03:24,520
Speaker 3: Important to bring back Smooth Hauley as an example of

48
00:03:24,600 --> 00:03:28,200
Speaker 3: what not to do to exacerbate any kind of economic condition,

49
00:03:28,280 --> 00:03:30,920
Speaker 3: because what really sent us into a depression was that

50
00:03:31,280 --> 00:03:33,840
Speaker 3: bill and that you know, it is always much more

51
00:03:33,840 --> 00:03:37,000
Speaker 3: expensive for the American consumer for tariffs, you know, eighteen nineties,

52
00:03:37,200 --> 00:03:40,680
Speaker 3: nineteen thirties, you know, and it cost us billions of

53
00:03:40,720 --> 00:03:43,200
Speaker 3: dollars when Trump had these tariffs in place, in subsidies

54
00:03:43,200 --> 00:03:47,360
Speaker 3: to farmers to pay them for lost product sales in China.

55
00:03:47,840 --> 00:03:50,680
Speaker 3: So you know, it is a dangerous tool I believe

56
00:03:51,000 --> 00:03:54,200
Speaker 3: to use sort of as a political or diplomatic weapon

57
00:03:54,520 --> 00:03:57,520
Speaker 3: against a country because it backfires on the United States.

58
00:03:57,640 --> 00:03:59,760
Speaker 3: And tell Myras was okay on that, but you know,

59
00:04:00,120 --> 00:04:01,960
Speaker 3: a little bit not much wiggle room since Biden has

60
00:04:02,000 --> 00:04:03,680
Speaker 3: kept these tariffs in place for the most part.

61
00:04:04,040 --> 00:04:08,400
Speaker 2: One day, Shiller on a bipartisan effort to raise t

62
00:04:08,440 --> 00:04:13,680
Speaker 2: tarriffs on Apple podcasts. It is single best I do